AUDUSD Daily Analysis – November 20, 2014

AUDUSD’s fall from 0.8795 extended to as low as 0.8585. Deeper decline to test 0.8540 would likely be seen, a breakdown below this level will indicate that the longer term downtrend from 0.8910 has resumed, then next target would be at 0.8400 area. Resistance is at 0.8670, as long as this level holds, the downtrend from 0.8795 will continue.

audusd chart